UIN (Universitas Islam Negeri) Sunan Kalijaga, Yogyakarta: E-Journal Fakultas Ekonomi dan Bisnis Islam
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Implementasi Profit And Loss Sharing (PLS) Pengrajin Kain Tenun Sutera di Kabupaten Wajo di Tinjau dari Konsep Ekonomi Islam
Get PDFFinding out the profit and loss distribution system in the silk woven fabric sector in the Wajo district is the goal of this type of qualitative research. The author conducts fieldwork-based interviews and documentation to produce the processed data. According to the study\u27s findings, Wajo district\u27s silk weaving industry\u27s attempt to introduce profit sharing was having trouble. When the profits are distributed fairly in accordance with the original agreement, but the losses are only borne by the craftsmen by deducting work wages if the thread is damaged, and the capital owner does not contribute to the distribution, Islamic economic principles are not applied. This goes against the tenets of Islamic economics, which hold that gains and losses should be distributed equally and should not be detrimental to any party
Profitability Antecedents of Sharia Life Insurance Companies
Get PDFThis study aims to determine the effect of internal company factors on the profitability of sharia life insurance companies. The sampling technique used was purposive sampling with the object of research being sharia life insurance companies registered with the Financial Services Authority between 2017-2020. The analysis technique used is multiple linear regression analysis using the Stata 24 application. The results show that partially investment returns have a significant positive effect, and claims have a significant negative effect on profitability. Meanwhile, the premium growth ratio, liquidity and risk based capital are not significant in influencing profitabilit
The Effect of Service Quality, Personal Selling, and Complaint Handling on Customer Retention of Sharia Bank Customers with Customer Satisfaction as Intervening Variable
Get PDFCustomer retention is an important element of any banking strategy in today\u27s increasingly competitive environment. The purpose of this study is to examine and explain the effect of service quality, personal selling, and complaint handling on customer retention in Islamic bank customers in Indonesia with customer satisfaction as an intervening variable. The population of this study was Islamic bank customers in Indonesia with sampling using a purposive sampling technique, the number of samples used in this study was 107 respondents. The data analysis technique used is SEM-PLS using Warp PLS version 7.0 as a data processing tool. The results of this study indicate that service quality, personal selling, and complaint handling have a significant positive effect on customer satisfaction. Customer satisfaction itself has a significant positive effect on customer retention, while the three independent variables have no significant effect directly on customer retention. Different results when service quality, personal selling, and complaint handling have a significant positive effect on customer retention after being mediated by customer satisfaction variables
Comparison of Village Cooperative (KUD) and Village-Owned Enterprises (BUM Desa) in Indonesia
Get PDFThis paper aims to seek the difference between Village Unit Cooperatives (KUD) and Village Owned Enterprises (BUM Desa). This paper also seeks to observe the impact of the establishment of BUM Desa on KUD and the possibility of synergy between the two institutions. In this study, the methodology used is normative legal research with a comparative approach. This research shows that both institutions have the same goal, namely to enhance the village community’s quality of life. Even so, BUM Desa has a wider scope of business than KUD. In addition, this study also shows the possibility of synergies between the two business entities. Empirical studies are very open and needed to strengthen the synergy idea between the two business entities. The originality of this paper is because it examines the legal and socio-economic aspects of KUD and BUM Desa
Analisis Persepsi Generasi Z Terhadap Investasi Berbasis ESG (Enviromental, Social, and Governance) di Jakarta Islamic Index
Get PDFResearch aims: Penelitian ini bertujuan untuk mengetahui faktor yang memengaruhi minat berinvestasi berbasis Environmental, Social, and Governance (ESG) di Indeks Jakarta Islamic Index (JII). Penelitian ini mengadopsi teori UTAUT dengan model SEM PLS.
Design/Methodology/approch: Metode pengumpulan data adalah survei menggunakan penyebaran kuesioner dengan pertanyaan tertutup. Jumlah responden dalam penelitian ini sebanyak 134 responden. Teknik pengambilan sampel menggunakan metode non-probability sampling dengan menerapkan purposive sampling. Teknik analisis data menggunakan SEM-PLS dan aplikasi SPSS 25.
Research findings: Hasil penelitian ini menunjukkan bahwa financial literacy, subjective norm, dan atittude berpengaruh signifikan terhadap minat investasi berbasis Environmental, Social, dan Governance (ESG). Namun religiusitas tidak tidak berhasil memoderasi minat gen z berinvestasi di Indeks Jakarta Islamic Index (JII).
Research limitation and implication: Implikasi dari penelitian ini diharapkan dapat menjadi masukan bagi industri pasar modal syariah untuk meningkatkan pelayanan dan langkah untuk menguatkan keuangan syariah khususnya pasar modal untuk memajukan perekonomian nasional dalam menyongsong Indonesia Emas 2045
Greening the Future: Islamic Finance\u27s Pivotal Role in Combating Climate Change
Get PDFThis study investigates the relationship between Islamic finance and climate change nexus through the lens of the existing literature review articles published in the Web of Science and Scopus databases. Our methodical literature review unveils the full potential of Islamic finance in tackling climate change challenges and contributing to global sustainability endeavors through the creation of Shariah-compliant climate instruments, the promotion of green investments, the establishment of standards for socially responsible investments, the cultivation of cooperation and alliances, the evaluation and disclosure of climate risk, the incorporation of vulnerable communities via Islamic microfinance, and the establishment of a framework for monitoring and assessment. By grasping the potential contribution of Islamic finance to climate change mitigation and adaptation, we can harness its principles and practices to spawn a more sustainable financial system. Islamic finance has the capacity to bolster sustainable development goals by advocating for environmental protection, reducing vulnerability, and facilitating the development of sustainable infrastructure. The paper concludes with important policy implications.
Originality/Value: Islamic finance expands in the worldwide financial industry, boasting its distinct principles and values. Nonetheless, a research gap persists in comprehending the nexus between Islamic finance and climate change. While myriad studies have delved into the societal and economic facets of Islamic finance, research on its capacity to combat climate change and foster sustainability remains scarce. Addressing this research gap assumes paramount significance due to the urgency of the climate change predicament faced by humanity. To bridge this gap, we scrutinized the role of Islamic finance in climate issues by examining literature review articles published in the Web of Science and Scopus databases
Determinant Performance of Islamic Equity Funds in Indonesia
No full textFinancial risk tolerance is a crucial factor affecting the growth of Islamic Equity Funds and is directly linked to the performance of Islamic Equity Fund managers. Enhanced performance by investment managers in cultivating Islamic Equity Funds is likely to increase the intention to invest in such funds. This study aimed to assess and provide comprehensive information on the performance of Islamic Equity Funds in Indonesia. Quantitative statistical analysis was used to examine the impact of stock selection skills, market timing ability, fund size, fund age, expense ratio, and portfolio turnover on the performance of Islamic Equity Funds. This study utilized annual data from 2015-2020, obtained from the prospectus of each Islamic Equity Fund, Central Bank Indonesia (BI), and the Statistics of Indonesia (BPS). The findings indicated that stock selection skill and expense ratio had a positive and significant effect on the performance of Islamic Equity Funds. However, market timing ability, fund age, and fund size had no significant effect, although the results showed positive values. On the other hand, portfolio turnover had a negative and significant effect on the performance of Islamic Equity Funds. Therefore, it can be inferred that higher stock selection abilities of investment managers lead to better returns, and the expense ratio of an equity fund reflects the costs associated with portfolio management, administration, marketing, and distribution.
Originality/Value: This paper addresses the significant issues that arise in Islamic equity funds, which are crucial as investment portfolios, and contributes to a limited body of research in this area. Therefore, gaining insight into the key factors affecting the performance of equity funds can optimize their functionality and attract investors
Analysis of the Effect of Experiential Marketing on Customer Loyalty Using Customer Satisfaction as a Intervening Variables
Get PDFResearch Aims: This research aims to find the influence of experiential marketing, namely sense, feel, think, act, and relate marketing, on customer loyalty at PT. Bank Syariah Indonesia, using satisfaction customer as variable.
Methodology: This research is quantitative with a causality study. The sample is composed of 127 customers from Bank Syariah Indonesia. This research uses non-probability sampling as a sampling technique with purposive sampling and a questionnaire with a Likert scale as a data collection technique. As well as using SmartPLS 3.0 software for analysing data using structural equation modelling (SEM).
Research Findings: The research reveals that sense and relate variables significantly impact customer satisfaction, while feel, think, and act variables do not. Act has a positive impact on customer loyalty, but other variables have no significant effect. The relationship between satisfaction and loyalty is not significant, and satisfaction cannot mediate the relationship between experiential marketing and customer loyalty.
Originalitity: This research details the elements of experiential marketing, such as sense, feel, think, act, and relate, and evaluates their impact on customer satisfaction and customer loyalty
Implication: Customer satisfaction can be a critical factor in connecting customer experience to the level of loyalt
Is The Investment Account The Blue Ocean of Islamic Banking?
Get PDFBackground: Profit-Loss Sharing (PLS) and prohibition of interest are fundamental principles of Islamic banking. However, Islamic banking practice today seems move away from the ideal concept which is promoting PLS. Most of Islamic bank engage with less risky product and heavily relies on debt-based financing such as Murabaha.
Objectives: This study aims to discuss the opportunity and challenge in offering PLS instrument to financial customer as blue ocean strategy of Islamic bank.
Novelty: Islamic bank is expected to increase the portion of PLS instrument by offering investment account to support real sector growth. Additionally, this study provides economic rationale behind PLS instrument that Islamic banking may take into account.
Research Methodology / Design: a qualitative approached is employed to identify the challenge and opportunity of using PLS in investment account. Data is collected from journal articles, book, and other documented sources. The content analysis is performed to investigate economic rationale behind investment account product and factors that make the instrument less popular among Islamic banking institution
Findings: Profit and sharing investment account (PSIA) helps to overall employment creation by investing in real economic sector developments. Additionally, PSIA creates potential for equitable income distribution through wise capital allocation, by channeling capital units to micro, small, and medium-sized firms.
Implication: The study can enrich Islamic finance literature in area of Islamic banking with regard to utilization of profit and sharing instrument for supporting real economic sector
The Impact of Financial Technology, Islamic Financial Literacy, and Behavioral Biases on Investment Decisions in the Sharia Capital Market
Get PDFThe development of the number of investors in the Indonesian Capital Market continues to increase year after year, including investors in the Sharia Capital Market. Indeed, this cannot be separated from the investment decisions that the investors have made. This study aims to analyze the effect of Financial Technology, Islamic Financial Literacy, Overconfidence Bias, and Herding Bias on investment decisions in the Sharia Capital Market. This paper presents a new research treatise or a renewable gap in the scope of Islamic Finance because it is more specifically related to investment decisions in Sharia Capital Market and Muslim Investor samples which are different from previous studies. As a quantitative research, this study used Partial Least Square-Structural Equation Model (PLS-SEM) analysis with the help of SmartPLS software and used data from 190 respondents that was collected through the questionnaire method. The result found that Financial Technology, Islamic Financial Literacy, and Overconfidence Bias have positive and significant impacts on Investment Decisions in the Sharia Capital Market, while Herding Bias known to have no positive and significant effects on investment decisions in the Sharia Capital Market. The paper provides empirical evidence that can contribute to the development of knowledge and insight in the field of Economics and Business Islam through Sharia Financial Management research related to Investment Decisions in the Sharia Capital Market, and it is practically helpful for academics, investors, and researchers.